Essex Realty Group Closes Sale of $17M Suburban Chicago Apartments
Essex Realty Group announced the sale of Parkside Apartments, a 120-unit multifamily property located in Glen Ellyn, Illinois.
Constructed in 1963, the property represents an institutional-scale investment in the highly sought-after DuPage County rental market. Essex Realty Group Principal Brian Karmowski and Director Anthony Citriglia represented both the seller, Iman Jalali of Bear Peak Capital, and the buyer, Revir Capital, led by Rushi and Prachi Shah, in the transaction.
Parkside Apartments consists of 88 one-bedroom and 32 two-bedroom units totaling approximately 104,640 square feet. The property maintained strong occupancy and tenant demand, while in-place rents remained approximately 10% below market.
“The sale of Parkside Apartments highlights the continued strength of investor demand for well-located suburban multifamily assets in DuPage County. Glen Ellyn’s strong demographics, durable renter base, and clear path to rent growth made this an attractive long-term investment. Congratulations to all parties involved,” said Principal Brian Karmowski.
Other News
Colliers Brokers $18M Sale of 88-Unit Multifamily in Seattle’s Roosevelt Neighborhood
Colliers announced the $17.5 million sale of 6700 Roosevelt, an 88-unit multifamily community directly across from the Roosevelt light rail station in Seattle’s Roosevelt neighborhood. Coverse Capital Investments acquired the property from 6700 Roosevelt LLC. Sam Wayne, senior vice president, and associates Dylan Luxenberg and Reed Gustavsen of Colliers, represented the seller and procured the...
Learn more
BKREA Tapped to Sell Fully Entitled, Large-Scale Bronx Site
Himmel + Meringoff Properties and Affinius Capital have selected BKREA to sell 1601 Bronxdale Ave., a fully entitled, large-scale Bronx development site planned as a mixed-use hub with thousands of new homes and direct pedestrian access to the forthcoming Parkchester/Van Nest Metro-North station. The planned layout provides 2.42 million square feet across six buildings around...
Learn more
Toll Brothers City Living Assembles Parcels for West Chelsea Development
Adirondack Capital Partners (ACP) closed the $45-million sale of 126/128 Tenth Ave. and 456 W. 18th St. to Toll Brothers City Living. The acquisition forms part of a broader West Chelsea development assemblage anchored by 118 Tenth Ave., which ACP previously sold to Toll Brothers for $53 million. The $721/ZFA price of the combined assemblage represents...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout